Review on Bitcoin by sarah miato
bitcoin currency
Bitcoin is a type of cryptocurrency, and the important difference with other digital currencies is that no one controls Bitcoin and can not be printed like a banknote. Bitcoin is mined around the world by people who use software and powerful servers to solve math operations.
Bitcoin is used for e-shopping. In such cases, Bitcoin acts like ordinary money, and the only difference is that it is traded digitally. But the main feature of Bitcoin and the most important factor that makes it different from the usual width is that Bitcoin has no center.
That is, it is not connected to any particular institution or company, and no one controls it, which makes people feel comfortable. Because no bank can control their money anymore. Bitcoin is decentralized and decentralized. No institution controls the Bitcoin network. A device that extracts bitcoins and processes transactions is part of the bitcoin network.
All of these computers and servers work together. Thousands of computers and mining devices are connected to the Bitcoin network around the world, forming a powerful and almost impenetrable network that no center or power can break the monetary rules or take money from.
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Pros
- no one controls Bitcoin
Cons
- low speed for transfer funds
